Woodside's showdown in Senegal, page-181

Exactly Jems! Anyone that coughs up AUD$600M on the assumption that if I haven't received an objection that the deal is done is an overpaid fool. How hard was it for WPL to draft some correspondence to the Senegal govt requesting that they put approval of the deal in writing? Basic document control for any organisation, never mind one with a market cap of over $25B. It's called dotting the I's and crossing the T's. The contract manager should be sacked for incompetence and the board should face serious consequences for authorising payment to COP without any written confirmation of the approval. It's an absolute joke, serious mistakes were made and board members, CEO's and managers with involvement in this should be shaking in their boots. My thoughts are that the outgoing chairman will want this matter settled as it will be a blight on his reputation if a new chairman walks in and does what he should have.

There are reputations at stake here and WPL being no different to any other business probably have the normal crap going on behind the scenes where everyone is more concerned about their own self preservation than be willing to stand up and take responsibility and ultimately fix the problem.

My thoughts are that PC has made a hail mary move with his latest announcement hoping that public & political pressure will force action on the matter from the Senegal govt. As August 1st approaches there will be quite a few at WPL feeling the heat. The question is, does the outgoing chairman have the balls to fix this before stepping down or does he leave it for his replacement and wear the blight and possibly the blame (the fall guy) which would be a blight on his reputation.